By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: NNPCL to Reduce Fuel Importation
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | NNPCL to Reduce Fuel Importation

News

NNPCL to Reduce Fuel Importation

Tapre Timine
Tapre Timine
Published: June 15, 2025
Last updated: June 15, 2025
4 Min Read
Share
NNPCL to Reduce Fuel Importation | Daily Report Nigeria
SHARE

The Nigerian National Petroleum Company Limited (NNPCL) has officially announced that it will reduce its imports of Premium Motor Spirit (PMS) once the Dangote Refinery begins production in late July or early August.

Findings revealed that as the sole importer of petrol in Nigeria, NNPCL has shouldered this responsibility for years. Other oil marketers have stopped importing petrol due to their inability to access US dollars at the official rate.

When asked about the impact of this on the NNPCL fuel imports program, the national oil firm’s spokesperson, Garba-Deen Muhammad, explained that the NNPCL would be supplying crude oil to the Dangote Refinery based on a business agreement between both parties.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

He said:

“NNPC Limited is bringing in products from outside Nigeria as a matter of necessity, not as a matter of choice. We would have preferred that we produce here, refine here and we sell and provide the energy security that the country needs.

“Because of the circumstances that surround our refineries, we cannot allow the country to be grounded. So we have to buy wherever we can get and sell. So if Dangote products are available, why should we not buy from Dangote?

“There is absolutely no reason. And that is the reason why we are interested in the Dangote Refinery. We are co-owners, shouldn’t we do business with our partners rather than do it with other people?”

Muhammad explained that the NNPCL would be supplying crude oil to the Dangote Refinery based on the business agreement between both parties and that this would be following the international price of crude.

He said:

“NNPC owns 20 per cent of that asset and we have an agreement with Dangote that we will supply the refinery with crude. So as soon as Dangote begins to request for crude to pay for it, NNPC is prepared to supply the crude as a business transaction.

“We have been selling crude to different parts of the world for decades, and it is not whether we will sell it to Dangote, for why won’t we sell to Dangote when we are selling to other refineries and countries?”

The Dangote Refinery, which was inaugurated on May 22, 2023, was seen as a game-changer for the Nigerian oil industry.

The facility, which is capable of processing six hundred and fifty thousand barrels of crude oil per day, is owned by Dangote Group, with NNPCL owning a 20 per cent stake.

At the inauguration, Aliko Dangote, the Founder/Chairman of Dangote Group, stated that the refinery would put an end to the inflow of toxic substandard petroleum products into Nigeria and meet 100% of the country’s fuel needs.

The Dangote Refinery was set to begin delivering refined products to the Nigerian market in late July or early August this year, according to a statement by the company’s CEO, Aliko Dangote.

NNPCL Group CEO, Mele Kyari had stated that the supply of three hundred thousand barrels of crude oil per day by the national oil firm to the Dangote Refinery would start once the facility commenced operations.

Although Dangote Refinery was set to improve the supply of petroleum products in Nigeria, the cost of white products will only be determined by the pricing template of the facility.

Oil marketers have expressed hope that the refinery will positively impact the industry.

It was said that the pricing template from the new refinery will guide operators on the cost of refined petroleum products from the facility.

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:NNPCLTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

FG’s ₦712bn Airport Renovation Plan Provokes Outrage from ADC | Daily Report Nigeria
FG’s ₦712bn Airport Renovation Plan Provokes Outrage from ADC
News
Galatasaray Set to Rake in €21.5M from Victor Osimhen Fan Box | Daily Report Nigeria
Galatasaray Set to Rake in €21.5M from Victor Osimhen Fan Box
Sports
Troops Destroy Bandit Camps, Recover Arms in Major OPWS Operations Across Benue | Daily Report Nigeria
Troops Destroy Bandit Camps, Recover Arms in Major OPWS Operations Across Benue
Metro
Eight Girls Drown as Canoe Capsizes in Jigawa | Daily Report Nigeria
Eight Girls Drown as Canoe Capsizes in Jigawa
Metro
NSCDC Arrests Two, Recovers Stolen Railway Tracks in Bauchi | Daily Report Nigeria
NSCDC Arrests Two, Recovers Stolen Railway Tracks in Bauchi
Metro

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

2023 Presidency: Any Igbo Man Who Supports Tinubu Deserves To Be Banished – Obioha | Daily Report Nigeria
Politics

2023 Presidency: Any Igbo Man Who Supports Tinubu Deserves To Be Banished – Obioha

June 14, 2025
BREAKING: Tinubu Appoints Kayode Egbetokun Acting Police Inspector-General
News

NPF Dismantles Illegal Refinery in Rivers

June 13, 2025
INEC Chairman Under Pressure From APC To Manipulate 2023 Election – Galadima | Daily Report Nigeria
Politics

INEC Chairman Under Pressure From APC To Manipulate 2023 Election – Galadima

June 13, 2025
INEC Announces Possible Re-Run, Bye-Elections In February | Daily Report Nigeria
Politics

INEC Announces Possible Re-Run, Bye-Elections In February

June 13, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?